Santos Port Authority (SPA), the state-owned company that manages the Port of Santos, ended the third quarter of the year with a net profit of BRL 136 million, the best result for the period, up 38.3% from the third quarter of 2021. The good performance was mainly driven by the increase in revenue, owing to the rise in revenue and cargo throughput. These factors led to the best performance in the port’s history in a single quarter, racing 42.8 million tonnes, up 17.2%. Net revenue in the third quarter totaled R$386 million, up 38.2% over the same period in 2021, as a result of (i) the outstanding performance in cargo handling and (ii) the increase in equity revenues, which were benefited from contract readjustments and the allocation of port areas for transition contracts and new leases.
Source: Datamar News